Top tips to make sure you get a bargain – The Irish Independent 27/03/2007

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HERE are some tips to ensure you get a better deal on home insurance.

* Be aware that covering the cost of rebuilding your property is different from covering the market value of your home which includes the site value.

* Make an annual audit of your possessions to ensure that everything is included.

* If you are able, it is an idea to pay your full insurance premium in one lump sum rather than through monthly repayments. This can save you money as some companies may charge you a rate of interest.

* Also, some companies provide discounts if you hold more than one insurance policy with them. So if you already have car or life insurance with a single company, ask for a quote for your home insurance, and ask if they can offer you any discount.

* Check the maximum value of individual objects covered in your contents cover and name any objects over this value for your quote.

* Cover for accidental damage is not always automatically included in buildings and contents insurance policies and is therefore often an optional extra. It is a useful option and should not alter your premium too much.

* Remember that undervaluing your home and contents insurance is never advised.

* Always keep an eye out for special offers that may be offered at various times by different insurance companies. For example, look out for money-back guarantees. This can assure you that you’re not being stung.

* You could bring down your premium costs by volunteering to pay more of an excess towards the cost of each claim. Only do this if you can afford to do so, however.